Ford’s Corktown Project Gets State Aid, Leads $1 Billion In Expansions

Ford’s Corktown Project Gets State Aid, Leads $1 Billion In Expansions

LANSING  The state of Michigan has approved a $209 million tax break over 30 years for Ford Motor Co.’s redevelopment of the long-vacant Michigan Central Station in Detroit’s Corktown neighborhood.

State officials said the creation of the Michigan Strategic Fund Designated Renaissance Zone will lead to a total private investment of $740 million and the creation of 2,500 Ford jobs and another 2,500 jobs with Ford’s partners and suppliers.

Ford plans a development center for autonomous and electric vehicles at the station, as well as a center for the design of future urban mobility products and services.

Overall, state aid was approved by the Michigan Strategic Fund for more than $1 billion in private investment and the creation of 4,574 direct jobs, the Michigan Economic Development Corp. announced.

To read the rest of this story, click on https://www.techcentury.com/2018/11/27/fords-corktown-project-gets-state-aid-leads-1b-in-expansions/

By |2018-11-29T20:08:17+00:00November 29th, 2018|Auto Tech, ESD|

About the Author:

Matt Roush, a former business and technology journalist for such publications as the Traverse City Record Eagle, Crain's Detroit Business and WWJ News Radio's GLTR, is now Director of Media Relations and Managing Editor, University News Bureau. He also is editor of the Engineering Society of Detroit's Technology Century website, plus a co-host of M2 TechCast on the PodcastDetroit Network.

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